Establishes a Real Estate Fund for proceeds from state-owned real property sales.
The bill creates a Real Estate Fund in the state treasury for moneys received from the sale of real property owned by the state. The fund will be administered by the commissioner of administration for acquiring interests in real property. The state treasurer will be the custodian of the fund and approve disbursements. The commissioner must prepare an annual report of all receipts and expenditures from the fund. Any remaining moneys in the fund at the end of the fiscal year will not revert to the credit of the general revenue fund.
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